Becoming a real estate agent is a highly rewarding career. Getting a license doesn’t require as much training as other professions, it offers flexible hours, you have the opportunity to work with people from all walks of life and you even have the chance to make a lot of money. Unfortunately, success is not as easy to achieve in the field as you may think. While the rewards you will reap are great, a great deal of patience is required in order to get there. Here are a few pros and cons to being a real estate agent.
Pro: You Make Your Schedule
One of the biggest perks of being in real estate is having the ability to set your own hours. Being in real estate often means that you’re your own boss and can move your schedule around freely to make sure you can be present at other important things in your life, such as a child’s sporting event. Unlike most jobs, there’s no clocking in and out at the start and end of each day, because the day starts and ends when you want it to.
Con: Without A Set Schedule, You May Put More Hours In
While not having a set schedule can be great, you may also have to put more hours in at times when you wouldn’t normally have to. Real Estate agents are often asked to work beyond the normal 9 – 5 hours that most professions go by, especially because client meetings occur on weekends or weekday evenings. So while you may be able to take time off on a weekday afternoon for a special event, you may have to work on the weekends when the rest of your friends and family typically have off.
Pro: Unlimited Income Potential
On average, real estate professionals in the United States make 25% more in their wages than the average worker. That alone shows how much potential there is to make a large amount of money in the field. Having a large set of business skills and the resolve to put the time in where needed can set you up for success and allow you to make as much money as you dream of making.
Con: Income Saftey Nets Don’t Exist
Unlike most professions, real estate agents don’t make a salary from the organization they represent. Instead, they’re more of an independent contractor or freelancer. The amount of money you make as a real estate agent will depend on the number of transactions you complete each month, as well as how big each sale is. This means having a few slower weeks of sales will likely take away from your overall earnings for the year. At the beginning of being an agent, you may not see a great paycheck for quite some time, and it’s often wise to set up a savings fund for times where you don’t make as much as you’d hope to make.
Pro: More Career Mobility
A difficult aspect of corporate America is climbing up the corporate ladder. Depending on the field you go into, it may be hard to find the career growth you’re looking for. Those who go into real estate often get to be their own boss, and at some point, it’ll probably be possible to begin calling some of your own shots. You may even decide you want to start your own real estate business as well!
Con: There’s Still A Ceiling
While there may be more career mobility overall, you’re still likely to hit a ceiling. Real estate agents typically choose to continue operating in direct sales, begin managing a group of real estate agents for an organization, or end up going out on their own and creating their own real estate business. If you don’t see yourself being okay with any of these options, real estate may not be the career for you, or you may want to consider changing careers at some point.